US inflation data, geopolitical tensions to drive gold, silver prices

Precious metals prices are set for a volatile week ahead as investors await key economic indicators and monitor escalating tensions in West Asia, market analysts said. The US Consumer Price Index report for August, scheduled for release on September 11, is expected to be the primary driver for bullion markets as traders reassess global interest rate expectations.

Beyond US inflation data, crude oil price movements and Iran-related developments will significantly impact gold and silver sentiment, according to commodity experts. These geopolitical factors typically influence safe-haven demand for precious metals, particularly gold, which investors traditionally turn to during periods of uncertainty.

Economic data from Germany and China, along with GDP figures from the Eurozone, Japan, and the UK, will also warrant investor attention this week. China's trade data release is expected to provide additional cues for commodity markets more broadly.

For gold in the Indian market, prices are facing resistance at Rs 1.57 lakh per 10 grams, while silver is expected to maintain positive momentum as long as it holds above support levels at Rs 2.31 lakh per kilogram, analysts noted. The interplay of these multiple factors suggests continued price pressure in precious metals markets through the week ahead.